I agree with the post as far as it goes. Frankly, I think later-Vimes would too, once he finds out how much the *actually* rich people actually make as income from inherited assets without ever lifting a finger.
I think there is some truth to the theory even for the rich, in the context of inherited wealth in an agrarian society (medieval or earlier), for people within a few rungs of each other in the income distribution. Back then all but the very richest still had to be frugal in many ways. Today, not so much, and the rungs are farther apart, and the products the poor and rich buy are much more different. Most people have no idea how rich “the rich” actually are, and even less idea what that actually means in terms of living their lives.
Also: have you read Scott Alexander’s Staying Classy post on some descriptions and discussions of economic and social class in the modern world (including Siderea)? I think the boots theory is basically Vimes applying his Labor thinking in an inappropriate context.
Also also: durability and price in the modern world are very poorly correlated for most things I buy. $500 fashion boots are frequently going to be less durable than ordinary workboots, even if they pretend to be workboots themselves. Discerning durability is quite hard, and if you’re rich enough, not worth the effort. Similarly, yes some laptops are better built than others, but I’ve never had one last longer than 4 years before it was not worth it to maintain or fix it. For desktops, the cycle is slightly longer but not by that much. I do have sneakers I have kept for >5 years, and they are a major brand name, but I bought them (new) at Marshalls for less than 1⁄4 the MSRP. Boots theory in Ankh-Morpork didn’t have to contend with just how complicated modern capitalism can get in terms of setting prices.
I agree with the post as far as it goes. Frankly, I think later-Vimes would too, once he finds out how much the *actually* rich people actually make as income from inherited assets without ever lifting a finger.
I think there is some truth to the theory even for the rich, in the context of inherited wealth in an agrarian society (medieval or earlier), for people within a few rungs of each other in the income distribution. Back then all but the very richest still had to be frugal in many ways. Today, not so much, and the rungs are farther apart, and the products the poor and rich buy are much more different. Most people have no idea how rich “the rich” actually are, and even less idea what that actually means in terms of living their lives.
Also: have you read Scott Alexander’s Staying Classy post on some descriptions and discussions of economic and social class in the modern world (including Siderea)? I think the boots theory is basically Vimes applying his Labor thinking in an inappropriate context.
Also also: durability and price in the modern world are very poorly correlated for most things I buy. $500 fashion boots are frequently going to be less durable than ordinary workboots, even if they pretend to be workboots themselves. Discerning durability is quite hard, and if you’re rich enough, not worth the effort. Similarly, yes some laptops are better built than others, but I’ve never had one last longer than 4 years before it was not worth it to maintain or fix it. For desktops, the cycle is slightly longer but not by that much. I do have sneakers I have kept for >5 years, and they are a major brand name, but I bought them (new) at Marshalls for less than 1⁄4 the MSRP. Boots theory in Ankh-Morpork didn’t have to contend with just how complicated modern capitalism can get in terms of setting prices.